Instant slum.
Watch this: There will be “legislation” coming out of Congress during the Obama second term to address this “new” economic activity. The “legislation” will be similar to the Community Reinvestment Act enacted in the 70’s (which eliminated the mortgage lending underwriting convention of “redlining” neighborhoods with poor credit risks in order to safeguard necessary bank assets). It will address a perceived “inequality” in the housing market and mandate a requirement for the landlords to provide rental housing for Section 8 recipients (Section 8 is the program where indigents get their housing rental payments paid entirely by the federal government) for a very high proportion of the available housing vacancies. These Section 8 recipients will be illegals and minorities. They will destroy your and my neighborhood, turning these into slums because they will have NO STAKE in the homes themselves. They will NOT be homeowners. This is the Democrat/Obama dream: the final deconstruction of ALL middle class enclaves, values, and venues.